Demand function specifies other factors that management will often consider, including the design and packaging of products, the amount and distribution of the firm’s advertising budget, the size of the sales force, promotional expenditures, the time period of adjustment for any price changes, and taxes or subsidies. For this discussion forum, consider your favorite consumer product (e. g. cell phone, car, cereal, restaurant, hair gel, etc.) and describe the variables that might be part of the demand function (i. e. substitute good, complementary good, income level, advertisement, consumer preference, etc.) for this product. How would you describe the elasticity of demand for this product – is it highly or somewhat elastic or inelastic? Why?

Doogan corporation makes a product with the following standard costs: standard quantity or hours standard price or rate direct materials 2.0 grams $ 7.00 per gram direct labor 1.6 hours $ 12.00 per hour variable overhead 1.6 hours $ 6.00 per hour the company produced 5,000 units in january using 10,340 grams of direct material and 2,320 direct labor-hours. during the month, the company purchased 10,910 grams of the direct material at $7.30 per gram. the actual direct labor rate was $12.85 per hour and the actual variable overhead rate was $5.80 per hour. the company applies variable overhead on the basis of direct labor-hours. the direct materials purchases variance is computed when the materials are purchased. the materials quantity variance for january is: